The Dow Jones Industrial Average dipped slightly from its record on Wednesday as investors awaited a decision from the Federal Reserve on its move to start withdrawing the support it has been providing.
The Dow Jones Industrial Average slipped 101 points. The S&P 500 fell 0.1%. The Nasdaq Composite rose slightly to hit an intraday record. All three major averages closed at record highs on Tuesday.
Lyft jumped 13% on better-than-expected third-quarter results.Zillow fell more than 15% after announcing it will close its home buying and flipping business. Shares of Bed Bath & Beyond rose on a partnership announcement with Krogerbut the 40% surge that followed was likely fueled by a short squeeze.
Activision shares tumbled, falling nearly 15% after it said the launch of two games would be delayed. The company also issued a weaker holiday outlook thought it did beat profit estimates for the quarter.
Investors are focused on the Federal Reserve,which is expected to announce the timeline for a gradual reduction in its bond-buying program Wednesday at the conclusion of its two-day meeting. They'll also be listening for clues on when the central bank plans to raise interest rates.
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